Topic: When Bitcoin will become stable currency? - page 7. (Read 1185 times)

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

Bitcoin has its value and is convertible into any currency people want, so I don't think it's going to have to become a fiat currency, like gold or many other asset of other value one can use fiat to trade them with each other.
I don't think of a future where there is only one common currency, but instead a harmony of valuable assets, the volatility of bitcoin against fiat will forever be, and indeed people will still use it without its stability.

I was thinking about Bitcoin as a currency a lot lately and I have some doubts about how currently we see its future.

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.

I know that people say that when Bitcoin will be adopted, it should become stable because there is a limited amount of it, but I don't see how it's gonna happen. From what I see people treat bitcoin as an asset to invest and hold and I can't imagine that will change in the future.

Why do you guys think Bitcoin will really become the "money of the future" and people will actually use it like one?
From what I see, I think it's possible that people in the future will still trade bitcoin or try to buy as much of it as possible to manipulate the market.

Agree. That's why I don't get it when maxis are saying that soon everyone gonna pay with bitcoin for everything

Bitcoin can not be a stablecoin, but they are many stable Coins or stable currencies because Bitcoin is created to make a difference in the cryptocurrency market, which has many benefits and profits attached after a short or long time investment for profits return, based on the price of purchasing.

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

First of all, Bitcoin is not a currency to be precise. Moreover people use Bitcoins as an asset and use it to make profits. You can take Bitcoins as gold, like in earlier days people used to trade things, like they give their golds, to get rations etc, similar thing happening with Bitcoins also. But this doesn’t make Bitcoins as currency. Moreover there are fixed amount of Bitcoins already broadcasted in the network, so this mean if people’s demand increases to acquire more Bitcoins, then the price will keep on increasing. So Bitcoins never settle at any fixed price.

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.

First of all, Bitcoin is not a currency to be precise.

Well, I highly doubt if Bitcoin will become a stable digital currency.  And in my opinion, the volatility is what differentiates BTC on FIAT ( like, Euro, USD…) , it is actually the main characteristic of Bitcoin without it the number of Bitcoiners would be significantly decreased and the coin would be totally worthless and similar to FIAT. In addition to that, as you see the demand in unstable currencies are higher than stable ones simply because they are profitable. In fact, we are just able to reduce the volatility of Bitcoin although it is quite tough to be achieved due to the market is basically controlled by whales.